Express Scripts tops in Q2; boosts buyback

MichaelBaron

Express Scripts
ESRX, -0.27%
is gaining $2.17, or 4.7 percent, to $48.65, after the St. Louis provider of pharmacy benefit management services posted second-quarter earnings before items of $48.7 million, or 61 cents a share, beating Wall Street's consensus estimate of 59 cents. The company also said its board has approved an increase in its buyback program to 10 million shares from 6.5 million. Looking ahead, Express Scripts lifted its outlook for 2002 to a profit of $2.43 to $2.45 per share, and said that it believes it can grow earnings by 25 percent in 2003.

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